Endo kept at outperform by RBC

RBC Capital Markets analyst Ken Trbovich maintained Endo Pharmaceuticals Holdings, Inc. at outperform, above average risk, and a price target of $38 following the company's OxyContin settlement with Purdue. According to the analyst, the settlement removes the overhang of several hundred million dollars in damages that Endo may have been ordered to pay Purdue if Purdue had prevailed in the courts. Endo's solid balance sheet, with more than $650 million in cash and investment with no long-term debt, remains an asset that can fund future company growth. Shares of the Chadds Ford, Pa.-based pharmaceutical company were up 70 cents, or 2.16%, at $33.14, on volume of 2,567,567 shares versus the three-month running average of 1,184,300 shares. (Nasdaq: ENDP)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.